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Beyond Meat (BYND) Gains But Lags Market: What You Should Know
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In the latest trading session, Beyond Meat (BYND - Free Report) closed at $143.56, marking a +0.79% move from the previous day. The stock lagged the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 1.6%, while the tech-heavy Nasdaq added 0.42%.
Prior to today's trading, shares of the plant-based meat company had lost 16.51% over the past month. This has lagged the Consumer Staples sector's loss of 3.61% and the S&P 500's loss of 2.51% in that time.
Wall Street will be looking for positivity from BYND as it approaches its next earnings report date. This is expected to be November 9, 2020. The company is expected to report EPS of $0.03, down 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $135.56 million, up 47.41% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.06 per share and revenue of $491.67 million. These totals would mark changes of +250% and +65.05%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for BYND. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 14.82% lower. BYND is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that BYND has a Forward P/E ratio of 2477.04 right now. Its industry sports an average Forward P/E of 26.04, so we one might conclude that BYND is trading at a premium comparatively.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 125, putting it in the top 50% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Beyond Meat (BYND) Gains But Lags Market: What You Should Know
In the latest trading session, Beyond Meat (BYND - Free Report) closed at $143.56, marking a +0.79% move from the previous day. The stock lagged the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 1.6%, while the tech-heavy Nasdaq added 0.42%.
Prior to today's trading, shares of the plant-based meat company had lost 16.51% over the past month. This has lagged the Consumer Staples sector's loss of 3.61% and the S&P 500's loss of 2.51% in that time.
Wall Street will be looking for positivity from BYND as it approaches its next earnings report date. This is expected to be November 9, 2020. The company is expected to report EPS of $0.03, down 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $135.56 million, up 47.41% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.06 per share and revenue of $491.67 million. These totals would mark changes of +250% and +65.05%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for BYND. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 14.82% lower. BYND is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that BYND has a Forward P/E ratio of 2477.04 right now. Its industry sports an average Forward P/E of 26.04, so we one might conclude that BYND is trading at a premium comparatively.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 125, putting it in the top 50% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.